Huntington National Bank Buys 558 Shares of Marathon Petroleum Co. (NYSE:MPC)

Huntington National Bank raised its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,256 shares of the oil and gas company’s stock after acquiring an additional 558 shares during the period. Huntington National Bank’s holdings in Marathon Petroleum were worth $4,929,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Great Lakes Retirement Inc. purchased a new stake in Marathon Petroleum in the 1st quarter worth about $269,000. Motco bought a new stake in shares of Marathon Petroleum during the 1st quarter worth approximately $255,000. Spirepoint Private Client LLC purchased a new position in Marathon Petroleum during the 1st quarter valued at $226,000. Alera Investment Advisors LLC bought a new position in Marathon Petroleum in the 1st quarter valued at $269,000. Finally, TIAA Trust National Association lifted its position in shares of Marathon Petroleum by 38.2% during the first quarter. TIAA Trust National Association now owns 10,800 shares of the oil and gas company’s stock worth $2,176,000 after purchasing an additional 2,985 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

MPC opened at $158.14 on Friday. The firm has a market capitalization of $50.82 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 2.82 and a beta of 1.38. The business’s 50-day moving average is $159.44 and its two-hundred day moving average is $168.80. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. The firm had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.14 EPS. Research analysts anticipate that Marathon Petroleum Co. will post 9.41 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $0.91 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.30%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.15%.

Marathon Petroleum announced that its board has approved a share repurchase plan on Tuesday, November 5th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MPC shares. Tudor Pickering downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Mizuho reduced their target price on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. BMO Capital Markets lowered their price target on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. lowered their target price on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.07.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.